FirstFarms — Capital/Financing Update 2017

Dec 13, 2017

Issuance of convertible bonds in FirstFarms A/S

Issuance of convertible bonds in FirstFarms A/S

In continuation of company announcement no. 18/2017, it is hereby informed:

- that at the deadline of the subscription period on 12 December 2017, subscription requests for convertible bonds of a total of DKK 85.75 million were received. There is therefore an oversubscription of DKK 13.5 million in proportion to the maximum tender. There is a minimum subscription of DKK 750,000, and all investors, who have subscribed for more than DKK 750,000, will get the subscription amounts allocated pro-rata.

- that if all owners of the convertible bonds may choose to utilise the conversion right, the capital increase will be DKK 12,620,090 corresponding to 1,262,009 shares.

The proceeds will be used as a combined supplement of the company's cash resources and the continued implementation of the growth strategy in several of the existing business areas, with a special focus on the company's new business area of pig production.

Thoraso Holding ApS, closely related to Chairman Henrik Hougaard, has subscribed for DKK 6,127,118.64, Thoraso Invest ApS, closely related to Chairman Henrik Hougaard, has subscribed for DKK 16,338,983.05, board member Asbjørn Børsting has subscribed for DKK 816,949.15 and board member Bent Juul Jensen has subscribed for DKK 4,084,745.76. Other investors have thus subscribed for DKK 44,882,203.39. All amounts mentioned are after the pro-rata allocation.

Best regards,

FirstFarms A/S

For further information:

Please visit our website www.firstfarms.com or

contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

Attachments:

• (20) Issuance of convertible bonds (UK)